pre-sixth: britain transformed 1918-1997 Flashcards
Britain is made up of which four countries?
England, Scotland, Wales and Northern Ireland
What does the north/south divide refer to?
The split between the richer south and poorer north that developed at the beginning of the interwar years (1918-1939)
What is a constituency?
A local area
Describe how a political party would win a General Election
By winning the most seats in the House of Commons- a seat is won by a candidate winning the most votes in their constituency
What are the major political parties today?
Labour and the Conservatives
What is a landslide majority? Why would a political party want this?
When a political party wins a large number of seats. There would be fewer MPs to oppose their government
What is a coalition government? Why would a political party not want this?
When a party wins by a narrow majority and so have to ask another party to rule with them in order to have enough supporters. The would have to compromise their views with the other party’s ideaology
What is inflation?
The prices of things going up
Describe the two types of inflation
“Demand pull” inflation- when more people want and can afford something. “Cost push” inflation- when there is a sudden decrease in the supply of goods
Summarise Keynes’ economic theory
The government can help a struggling economy out by boosting demands and services by giving more money to the consumers
What is the post-war consensus?
An agreement between every major political party in Britain to adopt Keynes’ economic theory
Summarise “supply-side” economics
The government stepping away and encouraging suppliers to be successful by being to most competitive or attractive
What is an interest rate?
The percentage that a borrower will pay back on top of the value of a loan
Who benefits when interest rates are high?
Savers
Would a low interest rate encourage you to save, or spend and borrow money?
Spend and borrow money
